Comtech Telecommunications calls $105 million 2% convertibles

By Susanna Moon

Chicago, Jan. 16 - Comtech Telecommunications Corp. said it will redeem all of its outstanding $105 million 2% convertible senior notes due 2024.

The company said it will pay 100.571 in cash plus accrued interest to Feb. 12, the redemption date.

Holders may convert the notes until 5 p.m. ET on Feb. 10 at a conversion rate of 31.746 common shares per $1,000 principal amount of notes, or at a conversion price of $31.50 per share.

Comtech, based in Melville, N.Y., is a communications solutions company operating in three segments: telecommunications transmission, mobile data communications and RF microwave amplifiers.

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